Japanese game maker Gumi announces $6.6 million bitcoin purchase

Tokyo-listed mobile game studio Gumi Inc. intends to buy bitcoin worth 1 billion Japanese yen (around $6.58 million), the company announced on Monday.

Gumi plans to make the purchase in the period between February and May of this year, according to the company's statement. 

“Through this initiative, we will further strengthen our node operation business and enhance our presence in the Web3 domain,” Gumi said in the translated version of the statement.

The company stated that the decision to purchase bitcoin was made to aid various efforts to strengthen the company’s financial standing in pursuing blockchain and other businesses. Such efforts include expanding its node operation business, Gumi said.

According to the statement, Gumi became the first listed company in Japan to participate in bitcoin staking protocol Babylon as a validator during the second quarter of the fiscal year ending April 2025.

Gumi said the company expects to earn secondary revenue from staking its surplus bitcoin funds into Babylon, and from validator rewards from the protocol apart from the profits gained through the increase in bitcoin price.

"Regarding our cryptocurrency holdings, we will conduct a fair market value assessment quarterly, and the resulting gains or losses will be recorded in our income statement," the company said in the statement.

Founded in 2007, Gumi was listed on the Tokyo Stock Exchange in 2014. The company has developed and launched a series of mobile games domestically and internationally, including "Final Fantasy: Brave Exvius" and "Brave Frontier."

The company also owns gumi Cryptos Capital (gCC), a venture capital firm that invests in early-stage blockchain and crypto companies.

Gumi’s stock price rose 3.65% on Monday to close the day at 454 yen, according to MarketWatch. As of publication time, bitcoin was trading at $97,608, up 0.8% in the past 24 hours, according to The Block's bitcoin price page.

Meanwhile, Japanese investment adviser Metaplanet Inc. has claimed that it is the first publicly traded company in Japan to establish a bitcoin treasury. Metaplanet currently holds 1,762 BTC and plans to expand its holdings to 10,000 BTC by the year-end, according to its latest financial statement.